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92 King Street

For sale: £425,000.00|1,683 Sq Ft|General Retail, Retail

Property details

FOR SALE£425,000.00
SIZE1,683 Sq Ft
ADDRESS92 King Street, Cottingham, HU16 5QE
TYPEGeneral Retail, Retail
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON16th June 2022

Description

Summary

Prime Retail Investment For Sale

Description

The property comprises an end terrace retail unit previously used as a bank. The property is arranged over two floors and assumed to be of traditional masonry construction with painted concrete render, under a pitched roof with clay pan tiles. There is also a single story brick built extension to the rear of the original building with a completely new roof in March 2022.
Internally the accommodation provides a newly refurbished retail space for Specsavers. The ground floor contains the main retail space immediately after entering the front of the premises. The open plan layout then leads towards the rear of the space, where there are a number of separate consultation rooms and storage areas. The first floor is accessed from the centre of the ground floor, and leads to an office, staff room and wc facilities. Externally there is a small store and a fenced secure yard area containing the air conditioning equipment.

Location

The property occupies a prominent position fronting on to King Street in the popular and sought after local centre of Cottingham, approximately 3.5 miles to the North West of Kingston Upon Hill City Centre. The immediate area is home to a wide range of multiple national retailers, including, Costa Coffee, Sainsbury Local, Boots The Chemist, Lloyds Pharmacy, Savers, as well as a wide variety of independent occupiers and retailers. Cottingham is well served by transport links with Cottingham Train Station being within walking distance of the property. Furthermore the A164 runs parallel to Cottingham and joining the A63, one of the main roads into Hull city centre, which in turns joins the M62 Westbound. Nearby there is a large public car park, located at Cottingham Green.
The Hull retail market has seen modest rental growth over the last 2 years of 0.3%, however predictions of rental growth around 2.2% by Q3 2024, with yield compression down by 0.2% over the same period across the region. Prime retail investments in the region have recently experienced high demand from Investors, driven by increasing demand and a general shortage of investment stock available on the market.

Location

marker
Location: 92 King Street, Cottingham, HU16 5QE

Cottingham (0.4 miles)

Hull Paragon (3.6 miles)

Beverley (4.2 miles)

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